£550K Bathgate Deal Secures Hotel Purchase

A £550,000 deal brokered by Bathgate Business Finance has secured the purchase of an Anglesey-based hotel and wedding venue.

Existing tenant, Shaun Armitage, from The White Bay Group Ltd, was given the opportunity to purchase The Gwesty Carreg Brȃn Hotel, from the venue’s landlord, allowing him to fulfil a longstanding desire to implement his own plans in refurbishing the hotel.

Located in Llanfairpwllgwyngyll the family-run hotel boasts three acres of stunning gardens close to the Menai Strait, offering a beautiful and peaceful countryside setting with convenient access via the A55.

Following an introduction from Richard Fraser-Williams at Business Wales, Bathgate’s expert team worked to structure a finance solution to meet Shaun’s requirements and vision for the venue. A key driver was speed, as the vendor had indicated interests from other buyers and was seeking a fast completion.

Bathgate identified Reward as a suitable funder for the deal, who were able to take a commercial view on the valuation, appreciate the benefits and opportunities ownership of the venue will provide and had the ability to complete the deal before the deadline set by the vendor.

Now having ownership of the hotel, Shaun has the freedom and means to implement a long-term investment programme that will meet his business objectives, something that would not have been possible as a tenant.

Ian Adams, BDM at Bathgate Business Finance, said: “We met Shaun at a challenging time for his business, but quickly grasped his vision for a family-run hotel and wedding venue and were keen to support this. After exploring the options available through our extensive network of funders, we identified Reward as the one that would best be able to navigate Shaun’s particular circumstances.

“As broker of the deal, we worked at pace with Reward and the client to ensure all needs were met and ensured the deal was completed as quickly as possible. We please to see Shaun’s plans for Gwesty Carreg Brȃn Hotel come to life and look forward to supporting the business as it grows and develops.”

Mike Calvert, Business Development Director for Reward Funding, said: “At Reward, we’re passionate about supporting ambitious entrepreneurs who are ready to take the next step in growing their business. Shaun’s vision for The Gwesty Carreg Brȃn Hotel made this an inspiring project to be part of. Working closely with Bathgate Business Finance, we were able to provide a flexible funding solution within a short timeframe, helping Shaun realise his long-term plans for the venue and safeguard a valued hospitality asset within the community. It’s another great example of how the right financial support can help unlock potential and achieve business objectives.”

Richard Fraser-Williams said: “This was an “impossible” deal, made possible by Bathgate sharing my faith in the client. I’m really pleased that our intro progressed to Shaun and his wife being able to realise their dream and look forward to working with them to develop the business further.”

For more information visit: https://carregbran.co.uk/

For more information about Bathgate Business Finance visit bathgatebf.co.uk, call Ian Adams on 07880 186846 or email ian@bathgatebf.co.uk